Oppenheimer Reiterates an 'Outperform' on Landstar System (LSTR); Adjusting Numbers on Chopiness
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Price: $190.19 +0.82%
Rating Summary:
4 Buy, 21 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 21 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Oppenheimer reiterates an 'Outperform' on Landstar System (NASDAQ: LSTR) price target of $60.00.
Analyst, Scott Schneeberger, said, "Consistent with past practice, LSTR held its 3Q12 mid-quarter guidance call at 2pm yesterday. It tempered 3Q12 revenue/EPS guidance noting "choppiness" in volume growth during the first eight weeks of 3Q12, with some days +10% y/y and others flat y/y, while revenue/load has been flat y/y. While the final five weeks of 3Q are typically seasonally stronger than the first eight, LSTR viewed it prudent to reflect most recent trends. Prior 3Q12 revenue/EPS guidance updated to "mid-single digits" (meaning 3-7%)/$0.66-0.71 (3-11% y/y) from 7-10%/$0.71-0.75 (11-17% y/y), respectively. Believing the market had anticipated slight softening given recent macro headlines, the shares still ceded 4% in afternoon trading."
FY12 EPS estimate lowered from $2.72 to $2.64 and FY13 from $3.12 to $3.02.
For an analyst ratings summary and ratings history on Landstar System click here. For more ratings news on Landstar System click here.
Shares of Landstar System closed at $47.69 yesterday.
Analyst, Scott Schneeberger, said, "Consistent with past practice, LSTR held its 3Q12 mid-quarter guidance call at 2pm yesterday. It tempered 3Q12 revenue/EPS guidance noting "choppiness" in volume growth during the first eight weeks of 3Q12, with some days +10% y/y and others flat y/y, while revenue/load has been flat y/y. While the final five weeks of 3Q are typically seasonally stronger than the first eight, LSTR viewed it prudent to reflect most recent trends. Prior 3Q12 revenue/EPS guidance updated to "mid-single digits" (meaning 3-7%)/$0.66-0.71 (3-11% y/y) from 7-10%/$0.71-0.75 (11-17% y/y), respectively. Believing the market had anticipated slight softening given recent macro headlines, the shares still ceded 4% in afternoon trading."
FY12 EPS estimate lowered from $2.72 to $2.64 and FY13 from $3.12 to $3.02.
For an analyst ratings summary and ratings history on Landstar System click here. For more ratings news on Landstar System click here.
Shares of Landstar System closed at $47.69 yesterday.
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